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What amount of rental revenue should be reported

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Reference no: EM132881007

Problem 1: Mark Company leased a new machine to Co Company on January 1, 2020. The lease expires on January 1, 2025 with an annual rental of 750,000. Co Company paid 350,000 to Mark as a lease bonus and 175,000 as a security deposit to be refunded upon the expiration of the lease. What amount of rental revenue should be reported for 2020?

a. 800,000

b. 810,000

c. 820,000

d. 830,000

Reference no: EM132881007

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